Teaching Responsibility
LJMU Schools involved in Delivery:
Liverpool Business School
Learning Methods
Lecture
Online
Module Offerings
4102LBSAF-JAN-MTP
Aims
This module has been designed to provide students with an introduction to modern economic principles along with developing their understanding of micro and macro economics.
Learning Outcomes
1.
Describe the nature of economics enquiry.
2.
Explain the role of markets in resolving the economic problem
3.
Identify and explain macroeconomic policy and its objectives
4.
Describe the nature of the debate over both the causes of unemployment and its policy solutions
5.
Identify and discuss the cause of inflation and its policy solution.
Module Content
Outline Syllabus:Economic Problem: Resource allocation in the context of scarcity and choice
Operation of markets; supply and demand, price elasticity of demand
Market failure: public goods, externalities; monopoly; asymmetric information; the role of the state
Macroeconomic policy objectives
The Great Depression and the emergence of macroeconomic theory and policy
Unemployment: Keynesian vs monetarism
Inflation: from the short-run to the long-run Phillips curve
Open economy macroeconomics: balance of payments and exchange rates
Module Overview:
This module has been designed to provide students with an introduction to modern economic principles along with developing their understanding of micro and macro economics.
This module has been designed to provide students with an introduction to modern economic principles along with developing their understanding of micro and macro economics.
Additional Information:This module will provide students with a thorough understanding of how economic policy can impact on the organisation.